To provide for the Secretary of Housing and Urban Development to make grants for economic development activities in connection with loan guarantees under section 108 of the Housing and Community Development Act of 1974 to enhance the security of such loans and improve the viability of projects financed with such loans, and for other purposes.
Community Enterprise Revitalization Amendments Act - Amends the Housing and Community Development Act of 1974 to authorize the Secretary of Housing and Urban Development to make economic development grants to enhance the security of housing loan guarantees under section 108 of such Act.
Authorizes such grants' funding with recaptured urban development action grant (UDAG) amounts.
Authorizes a UDAG amnesty program.
Authorizes the Secretary to guarantee section 108-backed obligations.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Housing and Community Development.
Sponsor introductory remarks on measure. (CR E551)
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